management also just released a letter to shareholders:
http://finance.yahoo.com/news/US-Natural-Gas-Corp-Issues-prnews-1980228363.html?x=0&.v=1

I will post the text from the article in the following post...any thoughts??

US Natural Gas Corp Issues Letter to Shareholders

Company Provides Overview of Operations

ST. PETERSBURG, Fla., June 21 /PRNewswire-FirstCall/ -- US Natural Gas Corp (OTC Bulletin Board:UNGS.ob - News), an energy exploration company with operations in the Appalachian Basin is pleased to issue the following letter to Shareholders.  
Dear Fellow Shareholders,
As President and Chairman of US Natural Gas Corp, I would like to thank you for your continued support and take time to report on the many achievements we have accomplished over the past year of operation. In addition, I would like to update our new shareholders, obtained in the Wilon Resources, Inc. acquisition, on the issuance and registration of shares per the Plan of Share Exchange.
Over the past 12-18 months, management has focused on building an asset base consisting of oil and gas properties, leaseholds, mineral rights, and other energy related resources which we feel will build shareholder value over time. As recently announced, we have completed the acquisition of Wilon Resources, Inc., a development stage energy exploration company with operations in West Virginia. This transaction followed our acquisition of certain oil producing properties from KYTX Oil & Gas, LLC in Kentucky. Management has now defined a business plan of acquiring oil and gas producing properties to accelerate revenue growth.
The Company operates through four wholly owned subsidiaries:
US Natural Gas Corp KY ("USNG KY")
USNG KY is a wholly owned subsidiary which is responsible for the day to day operations of the Company's oil producing properties in Kentucky. Presently, USNG KY operates thirty oil wells of which 14 are in production in southern central Kentucky, and maintains a leasehold base of approximately 5700 acres. USNG KY will continue to rework and place acquired wells into production while growing the leasehold base. USNG KY recently launched a new drilling program targeting the Knox formation on the Turner leasehold in Green County, Kentucky with a goal of drilling three to four wells prior to year's end.
US Natural Gas Corp WV ("USNG WV")
Formerly Wilon Resources, Inc., USNG WV is a wholly owned subsidiary which is responsible for the day to day operations of the Company's natural gas development project in Wayne County, West Virginia. USNG WV operates 115 natural gas wells, 3 oil wells, and maintains a leasehold base of approximately 12,000 acres. The Company is placing the wells back into production on an individual basis after a series of tests and installation of completion components. At present, the Company has 30 wells in production and anticipates this number to increase to 60-65 by the end of August. The Company has entered into a purchase agreement allowing for firm capacity delivery of production, alleviating any reoccurring concerns of indefinite shut-in periods.
E 3 Petroleum Corp ("E 3")
E 3 is a wholly owned subsidiary which is the sole operating and bonding entity for the Company's wells in the states of West Virginia and Kentucky.
E 2 Investments, LLC ("E 2")
E 2 is a wholly owned subsidiary which focuses on acquiring assets valued or equities trading at inherently depressed levels. At present, E 2 owns the mineral rights on 180 acres of land in Wayne County, West Virginia, and a minority stake in a publicly traded specialty retailer catering to the hunting industry.
In summary, the Company through its subsidiaries operates 115 natural gas wells, 33 oil wells, and maintains a leasehold base of approximately 17,000 plus acres in the Appalachian Basin. During the third quarter, the Company will retain a regional firm to prepare a Reserves Report valuing the proven and probable mineral resources available for extraction on its leasehold base
As a primary supplier of natural gas, we are excited to see that President Obama and his administration are emphasizing the need to develop clean energy resources and increase energy efficiency. Natural gas is the cleanest burning fossil fuel. As additional alternative energy sources are added to the energy mix, natural gas will serve in a vital and predominant role as the generating fuel of choice.
We are excited to begin our transition from a development stage company to an operating company. As we continue to place additional wells into production in both Kentucky and West Virginia, we build upon our recurring revenue base. The capital expenditures dedicated to our West Virginia operation will decrease after our core group of wells are placed into production, thus allowing the Company to recognize a higher revenue base and ROI.
During July, the Company will launch its new website giving shareholders more transparency into our operations. We have included a section dedicated to well investors and lessors which will allow them to view and print monthly and annual reports.
Former Wilon Resources, Inc. shareholders should begin receiving communication from the Company and Broadridge over the coming days defining what is required to exchange their shares for those of the Company's shares. The warrants issued per the acquisition agreement will be sent directly from the Company beginning in July. The Company intends to file a registration statement for the newly issued shares and warrants prior to July 15, 2010.
None of what has been accomplished over the past year of operation would have been achievable with our truly dedicated employees and contract workers. I would like to thank each of them and you for your continued support, and I look forward to reporting to you on our further accomplishments as they develop.
Best Regards,
Wayne Anderson
President and Chairman
June 21, 2010

just took a look at the company's news release they just came out with: http://www.prnewswire.com/news-releases/us-natural-gas-corp-retains-investor-relations-firm-del-mar-corporate-consulting-llc-98310319.html

Seems they have retained Del Mar corporate consulting as their IR counsel: http://delmarcorporate.com/
They also completely revamped their website (much more informative than the previous version): http://www.usnatgascorp.com

I will attach the text from the news release in my following post just in case the link fails to open. information on the company definitely seems to be much more accessible which (at least for me) gives me a sense of comfort when im building my position.

here is the text from the news release..anyone have any other information on the company/management/direction they are heading in???

Company Launches New Website

ST. PETERSBURG, Fla., July 13 /PRNewswire-FirstCall/ -- US Natural Gas Corp (OTC Bulletin Board: UNGS), an energy exploration company with operations in the Appalachian Basin is pleased to announce that it has retained the services of Del Mar Corporate Consulting, LLC as the Company's Investor Relations firm. In addition, the Company recently launched a new corporate website to better highlight its operations and offer visitors streamlined navigation to quickly and easily locate the information they need.
Del Mar Corporate Consulting is a full service financial market awareness firm that specializes in assisting small & mid-cap companies by improving shareholder value through media management, broker relations, corporate communications, and investor awareness.
Brian Hill, Managing Partner with Del Mar Corporate Consulting, stated "We are very pleased to have this opportunity to represent US Natural Gas Corp.  Operating in the oil and gas sector, we believe US Natural Gas Corp offers a tremendous opportunity to investors, especially within our current macro-economic climate."
"We selected Del Mar Corporate Consulting, LLC as our investor relations firm because of its expertise in shareholder communications and the relationships they have developed within the investment community," stated Wayne Anderson, President of US Natural Gas Corp. "We look forward to working with Del Mar Corporate Consulting to establish a more effective and transparent communications channel with the investment community."
About US Natural Gas Corp
US Natural Gas Corp is an independent energy company principally engaged in the acquisition, exploration and development of mature long-lived oil and natural gas properties. The company's current operations are concentrated in the Appalachian Basin within the states of Kentucky and West Virginia. www.usnatgascorp.com
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2009.
SOURCE US Natural Gas Corp
Back to top RELATED LINKS
http://www.usnatgascorp.com

pps at .075 (up almost 16%)...was up 21.5% earlier today from the start of the day great run (doubled up mid day)...now all i can do is wait/hope that it keeps going in the direction it has been going in.

now looking at the monthly price chart for this one on google finance: http://www.google.com/finance?q=OTC:UNGS
7/1/10 pps= .03
7/19/10 pps= .094 (earlier today)
taken a bit of a dip today since its high of .094 at .017 but still up almost 185-195% since the start of the month. Hoping to see it follow a similar trajectory going forward